Solid-state Relay Market

Market Overview:

The global solid-state relay market size reached US$ 1.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.54% during 2024-2032. The rising product utilization in industrial automation, widespread product application in the automotive industry, and the recent development of smart solid-state relays (SSRs) represent some of the key factors driving the market.

Solid-state relay (SSR) refers to an electronic component that provides electrical isolation and controls the flow of current in a system. It is comprised of an optoisolator, heat sink, control input, protection device, terminals, enclosures, and switching elements. It is widely used in industrial automation, residential and commercial lighting, medical equipment, diagnostic instruments, power distribution systems, automobiles, and heating, ventilation, and air conditioning (HVAC) systems. As compared to traditional electromechanical relays, SSR provides precise temperature control, reduces electrical noise, offers faster switching speed, requires less power, and improves system reliability. It also does not contain any moving parts, which aids in eliminating contact wear, extending service life, reducing maintenance, and improving resistance to vibrations and shocks. As a result, SSR finds extensive applications across the automotive, transportation, food and beverage (F&B), energy, power generation, and healthcare industries.

Solid-state Relay Market Trends:

The rising product utilization in industrial automation is one of the primary factors propelling the market growth. SSR is widely used in robotics, packaging machinery, power distribution units, and energy management systems to control electrical motors, heaters, coolers, thermal elements, solenoids valves, actuators, pumps, fans, blowers, dampers, sensors, lighting, and conveyor systems. In addition to this, the increasing focus on energy efficiency and sustainability across industries is acting as another growth-inducing factor. Furthermore, the widespread product application in the automotive industry to ensure optimum current flow and provide precise switching capabilities in engine control units (ECUs), electronic control modules (ECMs), climate control systems, power steering, infotainment units, and safety systems are positively influencing the market growth. Along with this, the growing product utilization in electric vehicles (EVs) to manage the charging and discharging of batteries and protect vehicles from electrical faults and overloads is favoring the market growth. Additionally, the recent development of smart SSRs that are equipped with light-emitting diode (LED) indicators and advanced monitoring systems, which offer self-diagnostic capabilities and provide real-time information regarding the state of the relay unit, is contributing to the market growth. Moreover, the widespread product adoption in renewable energy applications, such as solar, wind, geothermal, and hydroelectric power plants, to facilitate connection with the grid infrastructure, ensure efficient power distribution, and maintain voltage stability is supporting the market growth. Other factors, including rapid industrialization activities, increasing investments in the development of advanced products, and the growing demand for smart grid infrastructure, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global solid-state relay market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on mounting, output, current rating, and application.

Mounting Insights:

• Panel Mount
• PCB Mount
• DIN Rail Mount
   

The report has provided a detailed breakup and analysis of the solid-state relay market based on the mounting. This includes panel, PCB, and DIN rail mount. According to the report, PCB mount represented the largest segment.

Output Insights:

• AC Solid State Relay
• DC Solid State Relay
• AC/DC Output Relay
   

A detailed breakup and analysis of the solid-state relay market based on the output has also been provided in the report. This includes AC solid state relay, DC solid state relay, and AC/DC output relay. According to the report, DC solid state relay accounted for the largest market share.

Current Rating Insights:

• Low (0-20A)
• Medium (20-50A)
• High (50A and above)
   

A detailed breakup and analysis of the solid-state relay market based on the current rating has also been provided in the report. This includes low (0-20A), medium (20-50A), and high (50A and above). According to the report, medium (20-50A)accounted for the largest market share.

Application Insights:

• Energy and Infrastructure
• Industrial OEM
• Building Equipment
• Food and Beverages
• Automotive and Transportation
• Industrial Automation
• Healthcare
• Others
   

A detailed breakup and analysis of the solid-state relay market based on the application has also been provided in the report. This includes energy and infrastructure, industrial OEM, building equipment, food and beverages, automotive and transportation, industrial automation, healthcare, and others. According to the report, automotive and transportation accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for solid-state relay. Some of the factors driving the Asia Pacific solid-state relay market included rapid industrialization activities, increasing government initiatives, and various product innovations.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global solid-state relay market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include ABB Ltd, AMETEK Inc, Anacon Electronic Sales Inc., ARICO TECHNOLOGY CO. LTD, Broadcom Inc., Carlo Gavazzi Holding AG, Celduc Relais, Crydom Inc (Sensata Technologies Inc), Fujitsu Limited, Littelfuse Inc, OMEGA Engineering Inc, Omron Corporation, Rockwell Automation Inc., Vishay Intertechnology Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global solid-state relay market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global solid-state relay market?
• What is the impact of each driver, restraint, and opportunity on the global solid-state relay market?
• What are the key regional markets?
• Which countries represent the most attractive solid-state relay market?
• What is the breakup of the market based on the mounting?
• Which is the most attractive mounting in the solid-state relay market?
• What is the breakup of the market based on the output?
• Which is the most attractive output in the solid-state relay market?
• What is the breakup of the market based on the current rating?
• Which is the most attractive current rating in the solid-state relay market?
• What is the breakup of the market based on application?
• Which is the most attractive application in the solid-state relay market?
• What is the competitive structure of the global solid-state relay market?
• Who are the key players/companies in the global solid-state relay market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the solid-state relay market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global solid-state relay market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the solid-state relay industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.